<?xml version="1.0" encoding="UTF-8"?>
<!DOCTYPE root>
<article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:ali="http://www.niso.org/schemas/ali/1.0/" article-type="research-article" dtd-version="1.2" xml:lang="en"><front><journal-meta><journal-id journal-id-type="publisher-id">RUDN Journal of Economics</journal-id><journal-title-group><journal-title xml:lang="en">RUDN Journal of Economics</journal-title><trans-title-group xml:lang="ru"><trans-title>Вестник Российского университета дружбы народов. Серия: Экономика</trans-title></trans-title-group></journal-title-group><issn publication-format="print">2313-2329</issn><issn publication-format="electronic">2408-8986</issn><publisher><publisher-name xml:lang="en">Peoples’ Friendship University of Russia named after Patrice Lumumba (RUDN University)</publisher-name></publisher></journal-meta><article-meta><article-id pub-id-type="publisher-id">26887</article-id><article-id pub-id-type="doi">10.22363/2313-2329-2021-29-2-238-252</article-id><article-categories><subj-group subj-group-type="toc-heading" xml:lang="en"><subject>WORLD CAPITAL MARKET</subject></subj-group><subj-group subj-group-type="toc-heading" xml:lang="ru"><subject>МИРОВОЙ РЫНОК КАПИТАЛА</subject></subj-group><subj-group subj-group-type="article-type"><subject>Research Article</subject></subj-group></article-categories><title-group><article-title xml:lang="en">Features of the American foreign direct investment: the role of the American holdings</article-title><trans-title-group xml:lang="ru"><trans-title>Особенности американского прямого инвестирования: определяющая роль холдингов США</trans-title></trans-title-group></title-group><contrib-group><contrib contrib-type="author"><name-alternatives><name xml:lang="en"><surname>Konovalova</surname><given-names>Yulia A.</given-names></name><name xml:lang="ru"><surname>Коновалова</surname><given-names>Юлия Александровна</given-names></name></name-alternatives><bio xml:lang="en"><p>Candidate of Science (in Economics), the head teacher, International Economic Relations Department</p></bio><bio xml:lang="ru"><p>кандидат экономических наук, старший преподаватель, кафедра международных экономических отношений</p></bio><email>konovalovayua@rudn.ru</email><xref ref-type="aff" rid="aff1"/></contrib><contrib contrib-type="author"><name-alternatives><name xml:lang="en"><surname>Liongo Monkisheme</surname><given-names>Verity-Alexia</given-names></name><name xml:lang="ru"><surname>Лионго Монкишеме</surname><given-names>Верити-Алексиа</given-names></name></name-alternatives><bio xml:lang="en"><p>student (Degree of Bachelor in Economics), International Economic Relations Department</p></bio><bio xml:lang="ru"><p>бакалавр экономики, кафедра международных экономических отношений</p></bio><email>1032165514@rudn.ru</email><xref ref-type="aff" rid="aff1"/></contrib><contrib contrib-type="author"><name-alternatives><name xml:lang="en"><surname>Ushanov</surname><given-names>Stepan A.</given-names></name><name xml:lang="ru"><surname>Ушанов</surname><given-names>Степан Андреевич</given-names></name></name-alternatives><bio xml:lang="en"><p>senior expert, Department of Investigation of Financial Fraud and Assistance in Disputable Situations</p></bio><bio xml:lang="ru"><p>старший эксперт, отдел расследования финансового мошенничества и содействия в спорных ситуациях</p></bio><email>UshanovSA@gmail.com</email><xref ref-type="aff" rid="aff2"/></contrib></contrib-group><aff-alternatives id="aff1"><aff><institution xml:lang="en">Peoples’ Friendship University of Russia (RUDN University)</institution></aff><aff><institution xml:lang="ru">Российский университет дружбы народов</institution></aff></aff-alternatives><aff-alternatives id="aff2"><aff><institution xml:lang="en">Ernst and Young, LLC</institution></aff><aff><institution xml:lang="ru">ООО «Эрнст энд Янг»</institution></aff></aff-alternatives><pub-date date-type="pub" iso-8601-date="2021-07-01" publication-format="electronic"><day>01</day><month>07</month><year>2021</year></pub-date><volume>29</volume><issue>2</issue><issue-title xml:lang="en">ACTUAL PROBLEMS OF THE GLOBAL ECONOMY</issue-title><issue-title xml:lang="ru">АКТУАЛЬНЫЕ ПРОБЛЕМЫ ГЛОБАЛЬНОЙ ЭКОНОМИКИ</issue-title><fpage>238</fpage><lpage>252</lpage><history><date date-type="received" iso-8601-date="2021-07-01"><day>01</day><month>07</month><year>2021</year></date></history><permissions><copyright-statement xml:lang="en">Copyright ©; 2021, Konovalova Y.A., Liongo Monkisheme V., Ushanov S.A.</copyright-statement><copyright-statement xml:lang="ru">Copyright ©; 2021, Коновалова Ю.А., Лионго Монкишеме В., Ушанов С.А.</copyright-statement><copyright-year>2021</copyright-year><copyright-holder xml:lang="en">Konovalova Y.A., Liongo Monkisheme V., Ushanov S.A.</copyright-holder><copyright-holder xml:lang="ru">Коновалова Ю.А., Лионго Монкишеме В., Ушанов С.А.</copyright-holder><ali:free_to_read xmlns:ali="http://www.niso.org/schemas/ali/1.0/"/><license><ali:license_ref xmlns:ali="http://www.niso.org/schemas/ali/1.0/">http://creativecommons.org/licenses/by/4.0</ali:license_ref></license></permissions><self-uri xlink:href="https://journals.rudn.ru/economics/article/view/26887">https://journals.rudn.ru/economics/article/view/26887</self-uri><abstract xml:lang="en"><p style="text-align: justify;">Article is dedicated to the determination of key features of the United States participation in the international capital movement on the example of FDI’ outflows and inflows, and confirmation of its heterogeneous nature. Tax reform that has been implemented in the end of 2017 led to the result when USA was deleted of the list of TOP-20 world investors of 2018 (by UNCTAD). The scientific opinion and fears were connected with the forecasts that the tax reform could change the movement of FDI flows back to the USA from foreign countries, especially, and the countries with the low taxes and the most favorable investment regimes. At the same time, it needs to underline that the analysis of U.S. FDI inflows and outflows showed that the negative indicator of U.S. FDI outflow (export) in 2018-2019 was connected with the repatriation of U.S. holding companies’ profits, that were doing business in countries with the most favorable tax and investment regimes. The authors tried to investigate the nature of the American holdings role and the integration of U.S. in to the global system of FDI and capital movement.</p></abstract><trans-abstract xml:lang="ru"><p style="text-align: justify;">Рассматриваются основные черты участия США в системе международного движения капитала на примере прямого иностранного инвестирования (притоков и оттоков). Налоговая реформа, проведенная в США в 2017 г., привела к тому, что показатели американского оттока/экспорта инвестиций переместились в плоскость с отрицательными величинами, что вытеснило США из списка ТОР-20 мировых лидеров по объему вывоза ПИИ (ЮНКТАД, 2018). С научной точки зрения опасения главным образом связаны с изменением глобального тренда и возвращением американских ПИИ (через репатриацию прибылей американских холдингов) обратно в материнскую экономику. Продемонстрированы география и динамика американских ПИИ, а также определены их роль и место в структуре американских холдинговых компаний.</p></trans-abstract><kwd-group xml:lang="en"><kwd>international capital movement</kwd><kwd>FDI</kwd><kwd>USA</kwd><kwd>specialization</kwd><kwd>tax reform</kwd><kwd>low tax jurisdiction</kwd><kwd>holdings</kwd><kwd>FDI inflow</kwd><kwd>FDI outflow</kwd><kwd>foreign affiliates</kwd></kwd-group><kwd-group xml:lang="ru"><kwd>международное движение капитала</kwd><kwd>ПИИ</kwd><kwd>США</kwd><kwd>специализация</kwd><kwd>налоговая реформа</kwd><kwd>низконалоговые юрисдикции</kwd><kwd>холдинговые компании</kwd><kwd>притоки и оттоки ПИИ</kwd><kwd>аффилированные предприятия</kwd></kwd-group><funding-group/></article-meta></front><body></body><back><ref-list><ref id="B1"><label>1.</label><mixed-citation>Aksenov, P.A. (2018). Trump’s tax reform and American business. International Trade and Trade Policy, (6), 91-103. (In Russ.)</mixed-citation></ref><ref id="B2"><label>2.</label><mixed-citation>Arhangelskij, I.Ju. (2019). Antimonopoly regulation of foreign capital in the USA. USA &amp; Canada: Economics, Politics, Culture, 2(590), 57-74. (In Russ.)</mixed-citation></ref><ref id="B3"><label>3.</label><mixed-citation>Filippova, V.A. (2019). The importance of tax reform in the US in the aria of tax benefits. Colloquium-Journal, 9-10(33), 86-87. (In Russ.)</mixed-citation></ref><ref id="B4"><label>4.</label><mixed-citation>Hines, J.R., &amp; Rice, E.M. (1994). Fiscal paradise: Foreign tax havens and American business. The Quarterly Journal of Economics, 109(1), 149-182.</mixed-citation></ref><ref id="B5"><label>5.</label><mixed-citation>Kondratyeva, N.B. (2017). The U.S. - EU Transatlantic Partnership: Prospects. World Economy and International Relations, 61(8), 5-13. (In Russ.)</mixed-citation></ref><ref id="B6"><label>6.</label><mixed-citation>Konovalova, Yu.A. (2020). U.S. in the global FDI’ flows: Repatriation of foreign earning by U.S. from EU members as the new global trend. RUDN Journal of Economics, 28(1), 172-183. https://doi.org/10.22363/2313-2329-2020-28-1-172-183</mixed-citation></ref><ref id="B7"><label>7.</label><mixed-citation>Pechatnov, V.O. (2020). America gripped crises. World Economy and International Relations, 64(10), 5-16. (In Russ.)</mixed-citation></ref><ref id="B8"><label>8.</label><mixed-citation>Petrovskaja, N.E. (2018). Influence of the foreign direct investment on employment (USA’ experience). Megatrends of the Global Economy and International Business: International Conference Edition (pp. 144-146). (In Russ.)</mixed-citation></ref><ref id="B9"><label>9.</label><mixed-citation>Portanskiy, A.P. (2019). US - Europe: Allied relations under threat. Contemporary Europe, 6(92), 30-40. (In Russ.)</mixed-citation></ref><ref id="B10"><label>10.</label><mixed-citation>Sogrin, V.V. (2016). U.S. foreign policy at the beginning of 21th century. USA &amp; Canada: Economics, Politics, Culture, 5(557), 53-63 (In Russ.)</mixed-citation></ref><ref id="B11"><label>11.</label><mixed-citation>Supyan, V.B. (2019a). The state and economy: D. Trump’s version. USA &amp; Canada: Economics, Politics, Culture, 49(5), 5-21. (In Russ.)</mixed-citation></ref><ref id="B12"><label>12.</label><mixed-citation>Supyan, V.B. (2019b). US’ economy: Condition, problems, challenges. APR in Vision of Experts (pp. 148-160). (In Russ.)</mixed-citation></ref><ref id="B13"><label>13.</label><mixed-citation>Ushanov, S.A. (2017). The American transnational corporation and the questions of external economic safety. The Eurasian Scientific Journal, 9(3), 1-12. (In Russ.)</mixed-citation></ref><ref id="B14"><label>14.</label><mixed-citation>Ushanov, S.A., &amp; Fedjakina, L.N. (2019). United States - European Union: Key features of the mutual flows of foreign direct investment and the problem of the American capital repatriation. The Eurasian Scientific Journal, 11(6), 1-14. (In Russ.)</mixed-citation></ref><ref id="B15"><label>15.</label><mixed-citation>Ushanov, S.A., &amp; Konovalova, Yu.A. (2019). EU in the system of trade interests of USA. RUDN Journal of Economics, 27(2), 386-400. (In Russ.) https://doi.org/10.22363/2313-23292019-27-2-386-400</mixed-citation></ref><ref id="B16"><label>16.</label><mixed-citation>Ushanov, S.A., Konovalova, Yu.A., &amp; Zarubin, I.S. (2020). US - EU trade cooperation in the context of changing American foreign economic policy. MGIMO Review of International Relations, 13(5), 31-54. (In Russ.)</mixed-citation></ref><ref id="B17"><label>17.</label><mixed-citation>Vasilev, V.S. (2019). D. Trump’s tax reform of 2017: Contradictory effects. USA &amp; Canada: Economics, Politics, Culture, 49(11), 35-54. (In Russ.)</mixed-citation></ref><ref id="B18"><label>18.</label><mixed-citation>Volgina, N.A. (2015). State TNCs in the world market of foreign direct investment: Modern trends. Bulletin of Peoples’ Friendship University of Russia. Series: Economics, (1), 57-71. (In Russ.)</mixed-citation></ref><ref id="B19"><label>19.</label><mixed-citation>Zimenkov, R.I. (2017). U.S. government foreign investment regulation. USA &amp; Canada: Economics, Politics, Culture, 8(572), 45-61. (In Russ.)</mixed-citation></ref></ref-list></back></article>
